Why did the payments industry adopt the 8-digit BIN standard?
Impacts of the new 8-digit BIN standard
As more stakeholders adopt 8-digit BINs, it is no longer possible to rely on the first six digits of the PAN for authorization, routing and transaction clearing. It is critical to assess the impacts of this change with your acquirer, processor, vendors and other partners that support your transaction processing, routing and downstream activities. If you are using 6-digit BINs for the following activities, at a minimum, you need to determine how the BIN expansion will impact your back-end systems:
- Identification of card product types for certain merchandise restrictions
- Fraud and/or chargeback analytics
- Issuer identification
- Routing, if applicable to your region and if referenced at the BIN level in lieu of the account range
- Unique BIN range identification (e.g., fleet cards, specific corporate card types, benefits cards)
- Cash back qualification
- Optimization of approval rates and authorization analysis
Recommended impact assessments include:
- Detail how the issuing BIN is used in your own POS environment and adjust any logic that is based solely on the first six digits to also accommodate the first eight digits (at a minimum).
- Assess downstream system impacts (e.g., loyalty, billing, reporting, fraud management, etc.) and make necessary changes to accommodate the longer BIN length.
- Conduct testing to confirm seamless operations and downstream processes.
- Confirm your ability to process transactions with your processor and complete downstream activities regardless of the BIN length.
- Ensure BIN table information only comes from reliable sources (e.g., your acquirer or registered entities) that receive information directly from Visa (e.g., Visa BIN Attribute Sharing Service).
In this webinar, you will learn about Visa’s guidance for the International Organization for Standardization (ISO) 8-digit BIN industry change and what merchants should do to adapt.
We recommend that merchants engage and assess impacts across their organization as soon as possible to maximize efficiencies and avoid surprises. The following documents will provide more information on the processes you may need to change to adapt to the new 8-digit BIN standard.
PCI compliance impacts
Get the full picture on PCI Compliance for 8-digit BINs with the following resources:
External Consulting Services
EY Visa Numerics team at [email protected]
Deloitte Consulting Visa Numerics team at [email protected]